- VPR Brands’ specialization in cannabis vaping accessories, accompanied by its growing CBD product line, is helping to drive the company’s expansion
- VPRB reported about 31 percent revenue growth for the year’s first quarter, year-over-year, which added to its nearly 28 percent revenue growth for fiscal year 2018
- The quarterly report also noted gross operating margins above 40 percent, increased assets amid growing product sales and a declining net loss
Following on the heels of its recent report on 2018’s year-end financial progress, vaping technology innovator VPR Brands LP (OTC: VPRB) announced the results of fiscal operations for the first quarter of 2019 on May 20, highlighting continually increasing revenues and a narrowing net loss.
VPRB’s revenues grew about 31 percent year-over-year to $1.3 million for the quarter, according to the report (http://cnw.fm/9zIkG), continuing the trend reported for the full year in 2018, when revenues grew nearly 28 percent to $4.6 million (http://cnw.fm/VV3lE), and indicating that the company has begun 2019 at a strong pace that could eclipse the prior year if it continues.
VPR Brands continues to maintain strong gross operating margins above 40 percent as well, and the company was pleased to note that its net losses dropped to $138,000 for the quarter in tandem with an increase of its assets and expenses related to advertising and marketing.
“2019 is off to a solid start so far and we are setting the company’s pace which will allow us to remain focused on sustainable manageable growth,” CEO Kevin Frija stated in a news release. “We continue to invest in inventory and new products to be able to keep up with increased demand.”
VPR Brands specializes in vaporizers and accessories for essential oils, cannabis concentrates and extracts (CBD), and electronic cigarettes containing nicotine. They are markets that have been on a growth curve during recent years as popular sentiment has driven a wave of regulatory change to legalize cannabis, first as a healthful consumable for medical patients and then as a recreational drug that can promote a relaxing mood for users.
Industry analytical firm Research and Markets predicts that the multi-billion-dollar global vaping tank market will continue to grow at a lofty CAGR of 28.92 percent during the next five years (http://cnw.fm/gv4JN). Grand View Research similarly anticipates a CAGR of 23.8 percent through 2025 (http://cnw.fm/Q5UBp), with sales reaching $47.1 billion.
“As our product portfolio is heavily weighted towards cannabis vapes and CBD products, we continue to benefit from the continued growth in those product categories,” VPR Brands COO Dan Hoff added.
The company considers itself one of the most under-valued gems on the OTC exchange in the cannabis sector, thanks in part to the experience that its management has gained through decades of product development. Its acquisition of Vapor Corp. in 2016 has helped drive its sales growth through CBD activating products that the company foresees as optimal use mechanisms, providing a vaporization alternative to traditional but questionable means of smoking cannabis to derive its benefits.
Vapor Corp.’s premium open tank mod Honey Stick, in particular, was the first lifestyle brand to reach market with three sizes of ceramic sub-ohm vaporizers. Sub-ohm vaporizers have become go-to devices for a stronger straight-to-lung vapor or flavor that some consumers prefer (http://cnw.fm/loe0V).
The company’s Goldline cannabidiol (CBD) product division has also been generating successes in the nutraceuticals and edible supplements sectors.
VPRB plans to expand its brand through equity funding, which company executives believe will be sufficient to help the company meet its current capital needs when combined with the product of current operations.
For more information, visit the company’s website at www.VPRBrands.com
NOTE TO INVESTORS: The latest news and updates relating to VPRB are available in the company’s newsroom at http://cnw.fm/VPRB
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